Bitcoin interpretation: 20,000, gold goes to $ 2000

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Bloomberg’s chief commodity strategist Mike McGlone claimed that Bitcoin will surpass the $ 20,000 threshold in 2021 and is taking firm steps forward.

Bitcoin, which has experienced many ups and downs this year, started the year at $ 7200, fell below $ 4,000 in March due to the pandemic effect, but then exceeded $ 10,000 in June and gradually increased to date. According to McGlone, the largest cryptocurrency is currently moving up strongly.

In a tweet he shared yesterday, McGlone stated that in 2021 the average annual price will be $ 2,000 for gold and $ 20,000 for Bitcoin:

“In annual average prices, the indicator points to $ 2,000 for gold and $ 20,000 for Bitcoin. We are moving rapidly on this road. In these quasi-coins, both technical and fundamental formations support a new and refreshed bull market ”

If BTC exceeds the price of $ 20,000, this will be the highest level of the flagship coin to date. According to CoinmarketCap, this figure is now $ 19,982… This is not the first bullish comment by MCGlone about Bitcoin. The successful strategist also stated on November 4 that Bitcoin is less volatile than the Nasdaq stock market. On the same day, he said on Twitter that he expected BTC to experience a parabolic rise this year:

“Bitcoin can experience a parabolic rise in 2021, as in 2013 and 2017. If there is no unexpected development in the world, I expect this story to happen. Potential levels ahead are new peaks. With the supply-demand issue, the rapid increase in adoption, I think time is all it takes for the rise ”

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McGlone isn’t the only strategist who thinks Bitcoin will see new highs. Jason Deane, a Bitcoin analyst at Quantum Economics, said that Bitcoin has remained below its expected value for a long time, and this could change, as McGlone said this year:

“20 thousand dollars is a realistic figure in my opinion and I believe it will happen in 6 months”


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